Rates down almost 25 percent since July
COLUMBIA, S.C. (Jan. 2, 2009) – SCE&G adjusted the purchased gas portion of its natural gas rates for January, resulting in a decrease of $1.43, or 1.04 percent, from December in overall costs to residential customers based on average usage for the month. Compared to year ago levels, the average January bill will be down $29.56, or 17.91 percent. Since last July the cost of natural gas for the average residential customer (based on an average use of 100 therms) has decreased almost 25 percent.
Purchased-gas costs account for about 60 percent of a customer’s overall gas bill. The cost of gas purchased by SCE&G through its wholesale providers is passed on to customers without any markup. SCE&G does not profit from this portion of its rates.
To help level out the impact on customers of price changes in the wholesale natural gas market, SCE&G makes monthly adjustments to natural gas rates based on a rolling 12-month forecast of purchased gas costs. These adjustments are reviewed and approved by the South Carolina Office of Regulatory Staff and the Public Service Commission of South Carolina.
SCE&G is a regulated public utility that provides natural gas service to approximately 303,000 customers in South Carolina. SCE&G also is engaged in the generation, transmission, distribution and sale of electricity to approximately 649,000 customers throughout the state. Information about SCE&G is available on the company’s web site at www.sceg.com.